DA Davidson Predicts Higher Earnings for Independent Bank

Independent Bank Corporation (NASDAQ:IBCP - Free Report) - Research analysts at DA Davidson boosted their Q2 2025 earnings per share (EPS) estimates for shares of Independent Bank in a research report issued on Friday, June 27th. DA Davidson analyst P. Winter now forecasts that the financial services provider will earn $0.78 per share for the quarter, up from their prior forecast of $0.77. The consensus estimate for Independent Bank's current full-year earnings is $3.22 per share. DA Davidson also issued estimates for Independent Bank's FY2025 earnings at $3.19 EPS and FY2026 earnings at $3.47 EPS.

Independent Bank (NASDAQ:IBCP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The company had revenue of $54.11 million for the quarter, compared to analyst estimates of $46.25 million. Independent Bank had a return on equity of 14.71% and a net margin of 20.62%.

Several other analysts also recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Independent Bank from $37.00 to $35.00 and set a "market perform" rating for the company in a report on Friday, April 25th. Piper Sandler lowered their target price on Independent Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday, April 28th.

Independent Bank Trading Up 1.2%

IBCP stock opened at $32.62 on Monday. The company has a market cap of $675.89 million, a price-to-earnings ratio of 10.39 and a beta of 0.85. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $31.41 and a 200-day simple moving average of $32.59. Independent Bank has a 52 week low of $25.46 and a 52 week high of $40.32.

Independent Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.19%. Independent Bank's dividend payout ratio (DPR) is presently 33.12%.

Insider Activity

In related news, Director Michael M. Magee, Jr. sold 6,404 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $31.00, for a total transaction of $198,524.00. Following the transaction, the director now owns 8,381 shares in the company, valued at $259,811. This trade represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terance L. Beia acquired 1,821 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average price of $30.65 per share, for a total transaction of $55,813.65. Following the purchase, the director now directly owns 40,001 shares of the company's stock, valued at approximately $1,226,030.65. This trade represents a 4.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.68% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Independent Bank by 9.5% during the first quarter. Vanguard Group Inc. now owns 1,335,049 shares of the financial services provider's stock valued at $41,106,000 after acquiring an additional 116,339 shares during the period. FJ Capital Management LLC grew its position in Independent Bank by 1.9% in the first quarter. FJ Capital Management LLC now owns 683,156 shares of the financial services provider's stock worth $21,034,000 after buying an additional 12,672 shares during the last quarter. American Century Companies Inc. grew its position in Independent Bank by 8.4% in the first quarter. American Century Companies Inc. now owns 567,685 shares of the financial services provider's stock worth $17,479,000 after buying an additional 44,071 shares during the last quarter. LSV Asset Management grew its position in Independent Bank by 9.7% in the first quarter. LSV Asset Management now owns 460,026 shares of the financial services provider's stock worth $14,164,000 after buying an additional 40,856 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Independent Bank by 15.3% in the fourth quarter. JPMorgan Chase & Co. now owns 447,690 shares of the financial services provider's stock worth $15,593,000 after buying an additional 59,339 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

About Independent Bank

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.

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